TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Lightheart Entertainment raises €1.3m (£1.1m); Demiurge regains independence; and Tin Giant sues Atari. Lightheart Entertainment raises €1.3m (£1.1m) Lightheart Entertainment has raised seed funding of €1.3m (£1.1m) from Galaxy Interactive’s EOS VC fund. The investment will be used by the Helsinki-based studio to expand its debut mid-core title Mr. Autofire beyond its test launch in the United States, as well as developing further titles within the mobile sector. [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: GameStop surpasses earnings expectations; ASOdesk raises USD$1m (£833,000); and Tribe Gaming raises USD$1m (£833,000). GameStop surpasses earnings expectations Video games retailer GameStop has published its financial results for the fourth quarter and full financial year ending February 1st 2020. While net sales over the course of the year fell by 21.8% over the course of the year to USD$6.466bn (£5.389bn), the retailer reduced its debt by a measure [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Razer revenue reaches USD$821m (£694m); Fritz AI raises USD$5m (£4.2m); and estimated MTG esports revenue down 35%-45%. Razer revenue reaches USD$821m (£694m) Gaming technology firm Razer has announced its annual financial results for the year ended December 31st 2019, with revenue climbing by 15.2% year-on-year to reach a company record level of USD$820.8m (£693.6m). Excluding its mobile handset business, which it has now exited, Razer achieved adjusted EBITDA [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Microsoft bullish on Xbox supply chain; Tencent replaces DouYu and Huya directors; and Big Run Studios raises USD$1.4m (£1.2m) from Galaxy Interactive. Microsoft bullish on Xbox supply chain Microsoft CEO Satya Nadella has responded to concerns over Xbox Series X hardware manufacturing due to the ongoing outbreak of the Covid-19 strain of coronavirus, telling CNBC’s Jon Fortt, “On the supply side we are getting back on rails.” However, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Cloud gaming to reach USD$56.57bn (£48.80bn) by 2027; DreamCraft raises USD$3m (£2.6m); and Google Stadia partners with Unity. Cloud gaming to reach USD$56.57bn by 2027 The global cloud gaming market is forecast to reach USD$56.57bn (£48.80bn) by 2027, representing a CAGR from 2018 of 15.7%, according to estimates from Fortune Business Insights. Several factors have been cited as drivers towards this growth, including the increased adoption of online [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Scopely raises USD$200m (£173.1m) for M&A; The Sandbox secures USD$2.01m (£1.74m); Robin Games secures USD$7m (£6.05m) seed funding; and Mainframe Industries raises €7.6m (£7.1m). Scopely raises USD$200m (£173.1m) for M&A Los Angeles-based mobile publisher Scopely has secured USD$200m (£173.1m) in Series D funding, with investment primarily coming from media group Advance and consumer investment firm The Chernin Group. The latest haul, which takes Scopely’s total funding to USD$658.7m [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: USD$4.2m (£3.2m) seed round for Pragma; Lince Works raises USD$3.4m (£2.6m); Joy-Con drift lawsuit referred to arbitration; Daniel Alegre appointed as COO and president of Activision Blizzard. USD$4.2m (£3.2m) seed round for Pragma Back-end development support provider Pragma has raised USD$4.2m (£3.2m) in a seed round led by Upfront Ventures, with a range of participating investors including Advancit Capital; Jarl Mohn (NPR, former Riot Games); Dan Dinh (TSM) [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: E3 2020 to be cancelled; Unity acquires Artomatix; Mod.io raises USD$1m (£769,000); and PUBG CEO to also lead parent company. E3 2020 to be cancelled The 2020 edition of the Electronic Entertainment Expo (E3) will shortly be cancelled due to the ongoing outbreak of the Covid-19 strain of coronavirus. While yet to be publicly confirmed by organisers The Entertainment Software Association (ESA), a formal announcement to cancel the [...]